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The Second Stage

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The Second Stage serves as an entrepreneurial forum to exchange ideas and best practices amongst peers. While each business is unique, most companies face the same obstacles on their path to success. The topics and trends addressed within this community of like-minded individuals will include financials and reporting, valuation and value creation, succession planning, human resources, technology, insurance and benefits, as well as many others. The show will be delivered from the perspective of the hosts who view opportunities from both an entrepreneurial and institutional private investor perspective.The Second Stage also shines a light on the significant impact that entrepreneurs and their growing companies have on creating a vibrant economic base. Tune in every Monday at 2 PM Pacific Time on the VoiceAmerica Business Channel.Read more »

The Second Stage serves as an entrepreneurial forum to exchange ideas and best practices amongst peers. While each business is unique, most companies face the same obstacles on their path to success. The topics and trends addressed within this community of like-minded individuals will include financials and reporting, valuation and value creation, succession planning, human resources, technology, insurance and benefits, as well as many others. The show will be delivered from the perspective of the hosts who view opportunities from both an entrepreneurial and institutional private investor perspective.The Second Stage also shines a light on the significant impact that entrepreneurs and their growing companies have on creating a vibrant economic base. Tune in every Monday at 2 PM Pacific Time on the VoiceAmerica Business Channel.Read Less

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Most Recent Episode

The 5 Stages of Value Maturity Podcast Series: Stage 5 – Manage Value

Nov 1, 2017
·
23 minutes

In this five-part podcast series, we have hosted exit planning expert Mike Trabert to discuss the five stages of a value maturity cycle that will help position your business for a successful transition. A partner at Skoda Minotti, Mike leads the firm’s Value Acceleration & Exit Planning and Transaction Advisory Services groups. He is a certified valuation analyst and the author of new e-book The 5 Stages of Value Maturity.
Over the past several months, we have covered the first four stages in a value maturity cycle:
Identify Value
Protect Value
Build Value
Harvest Value
Manage Value
Today, we will be discussing the final stage of the value maturity cycle – managing the value of your business. Although getting your company’s financial house in order is certainly a crucial step, it’s just as important that small-business owners focus on putting together a detailed plan for their personal financial matters after exiting a business.
Two key components of this step are estate planning and financial planning tasks. Essentially, this involves taking the time to review and make any necessary updates to important records – such as estate documents, insurance policies, and retirement accounts/pension beneficiary designations, to name a few – every three to five years, or when a major life event occurs. In addition, you’ll need to prepare a detailed budget and personal net worth statement. This will help develop a good understanding of your long-term spending needs in retirement and, based on that, determine the minimum selling price for your business in order to fund those needs.
As part of this financial model, it’s important to think through the many aspects of estate planning, such as who will handle the role of executor/trustee, how and when any heirs will receive their inheritance, custody arrangements for children and any charitable goals you may have. In addition, you’ll need to consider whether you are subject to estate taxes.
Lastly, be sure to develop a plan for your life after exiting the business. Although this is often neglected by many small-business owners, it’s important to think about how you’ll spend your time post-transition – whether it’s starting a new business, consulting for other companies, getting involved in the community or working on a hobby.
To learn more, listen to this week’s podcast with exit planning expert Mike Trabert!Read more »

In this five-part podcast series, we have hosted exit planning expert Mike Trabert to discuss the five stages of a value maturity cycle that will help position your business for a successful transition. A partner at Skoda Minotti, Mike leads the firm’s Value Acceleration & Exit Planning and Transaction Advisory Services groups. He is a certified valuation analyst and the author of new e-book The 5 Stages of Value Maturity.
Over the past several months, we have covered the first four stages in a value maturity cycle:
Identify Value
Protect Value
Build Value
Harvest Value
Manage Value
Today, we will be discussing the final stage of the value maturity cycle – managing the value of your business. Although getting your company’s financial house in order is certainly a crucial step, it’s just as important that small-business owners focus on putting together a detailed plan for their personal financial matters after exiting a business.
Two key components of this step are estate planning and financial planning tasks. Essentially, this involves taking the time to review and make any necessary updates to important records – such as estate documents, insurance policies, and retirement accounts/pension beneficiary designations, to name a few – every three to five years, or when a major life event occurs. In addition, you’ll need to prepare a detailed budget and personal net worth statement. This will help develop a good understanding of your long-term spending needs in retirement and, based on that, determine the minimum selling price for your business in order to fund those needs.
As part of this financial model, it’s important to think through the many aspects of estate planning, such as who will handle the role of executor/trustee, how and when any heirs will receive their inheritance, custody arrangements for children and any charitable goals you may have. In addition, you’ll need to consider whether you are subject to estate taxes.
Lastly, be sure to develop a plan for your life after exiting the business. Although this is often neglected by many small-business owners, it’s important to think about how you’ll spend your time post-transition – whether it’s starting a new business, consulting for other companies, getting involved in the community or working on a hobby.
To learn more, listen to this week’s podcast with exit planning expert Mike Trabert!Read Less